Building an List that Converts
If you are under the impression that you need a large list in order to make money, you are wrong. List size is not the key to success. There are plenty of marketers who have over 100,000 people on their lists and they don’t convert nearly as well as some others who have just 5,000. Conversion rate is the key to success.
The key is to gain trust and cultivate a list of loyal subscribers.
Once you have people who trust you – who open every email you send out – you begin to see conversions that beat out high-volume lists of marketers who have no connection with their audience.
Numbers Will Go Up and Down
Do not waste your time checking your subscriber list size on a daily basis. The numbers will change. You may have 9,010 subscribers one day, 8,920 the next and back up to 9,130 the next. There are many reasons why people come and go.
- There will always be those who opt-in only for the free gift. (I have done it myself, and you probably have, as well.)
- Some just want to see what you are offering and then decide that it is not a good fit for them. (Do not take it personally. Remember, you want people who are a good fit and will become long-term subscribers.)
- Some of the ones that drop off actually want to be on your list, but for some reason their email bounces several times and the auto-responder system kicks them out.
Staying glued to your computer screen serves no purpose except to add stress to your life. Your time will be better spent developing products and pursuing ideas that will attract more subscribers – who buy your products and services.
Do Not Engage in Backscratching
There are marketers out there who have huge lists because they do not care how they get them. They are continually expanding their list size any way they can with one goal in mind – to gain power in the inner marketing circles. A list of 100,000 subscribers carries a lot of power. It makes securing big joint ventures much easier.
When these marketers have a product ready to launch, they reach out to multiple top marketers who also have big lists. They use their 100,000 subscriber lists as an enticement for a reciprocal promotion of products, with no concern about the relevancy of the products they will be promoting to their subscribers.
This is often called “pimping out a list,” which is a form of subscriber abuse in my opinion; but it is very common. These marketers promote anything they are asked to promote with little or no thought of whether it is beneficial to their subscribers. Not a good idea!
If you want to develop a long list of loyal subscribers, your recommendations must be relevant to your niche and have potential value for your subscribers.
Also be careful about inundating them with offers even if they are relevant. When you do that, it becomes quite clear that your only goal is to sell – sell – sell, and it is more annoying that helpful.
For example: I recently purchased a “healthy diet program” from a well-known marketer in the health and diet niche because she is a competitor in one of my other niches. I wanted to see what she was offering. The program was good and I felt that I had received value for my $50. Unfortunately, since the date of my purchase she has been bombarding me with recommendations of other people’s products (at least every other day). I am so annoyed that I have requested a refund of my original purchase and have “unsubscribed” to her list.
Don’t make this mistake! Backscratching and pimping out your list are absolutely unnecessary and dangerous in the long run.
Yes, growing your list may take longer if you grow it with the intent of building relationships with your subscribers, but your conversions will be higher (35% instead of 3%) with minimal refunds rather than the huge number of refunds the others have to make.
When Should You List Swap
- When a product is relevant to your niche and will add value to your subscribers.
- When the price is fair for the product. Never promote a product that does not stand up to scrutiny and is essentially a rip-off. For example, do not promote a $997 course that was developed by shoestring-budget newbies. (Always preview a product before promoting it, if at all possible.)
- When it is a beneficial reciprocal agreement. Benefits can vary. There may be a commission, a product promotion swap to help build your list, or simply personal satisfaction that comes from recommending something of value to your followers.
Even though the Internet is vast, subscribers communicate and the word gets out. Many marketers have fallen out-of-favor with the public because of bad practices.
I told you of a recent experience I had with a solid product purchase that was followed with spam promotions, day-after-day. You may have had a similar experience or know of people who have had the same type of experience.
I opted out within a couple of weeks. That marketer not only lost the opportunity to sell her own products to me in the future, but will never be able to recommend future products as an affiliate to me (and possibly others), as well. What a waste!
Be smart in how you build – and use – your list! Both can significantly impact how your business develops!